I could say it's not as bad as the post title sounds... but... well... it is. I don't claim to be an expert, in fact Matthew took Economics class in high school, whereas I haven't, but in any case, the US economy is starting to bend, or rather snap, under the load of debt. This debt has been blamed on people not being able to pay back housing loans, and lending companies going broke because of it. Lehmanns went bust, but the US government bailed out AIG out with a $85 million loan, I think. They've also bailed out a bunch of other companies, too... to be honest, I'm not quite sure what's happening right now, but I do know huge package (like $700 billion) to support the companies that are going broke is being hashed out in the government.
Sorry.... this post is a little scrambled... but oh well, maybe I can write more and better later... feel free to help out, Matthew. :p
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It really grew into a problem under Reagan's administration. Not to knock the guy too much, but his policies got people into debt.
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